CLO market

“This is a seven hundred and fifty billion dollar market where there's 125 different managers where there's about a thousand deals with 3000 different underlines. So this has gone from something that you can do yourself to big data.”

“And the one thing I can guarantee you is, is that people who raise money will never give it back. They're just not going to give it back and say, I couldn't find anything. So they're going to find something to invest in. I think that's going to come to helping…”

“Oftentimes today, for example, the CLO market, We like to own the lower parts of the debt stock because we'd like to own the structure.”

“There's never been an impairment in the history of the CLO market on a AAA or AA security issued.”

“To be diversified in the CLO market, I would say it's something like having max positions of around five percent of the portfolio. Each CLO, again, is going to have 200 or 300 different loans in it. You would not need a hundred CLO equity tranches to be divers…”

“The 90% of the CLO market is broadly syndicated CLOs. So if you look in there, you're going to find companies who borrow a billion dollars and up basically.”